The 4 dangers facing business today

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4 dangers that face business yesterday, today and tomorrow. Find out what they are and what you can do about them.

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  • 4300 UK companies between 1965 and 1998. HP = HP filtered UK series of output per capita data represents the business cycle
  • The 4 dangers facing business today

    1. 1. 4 Dangers Facing Business<br />
    2. 2. Business should be a well oiled machine<br />But … todays business challenges…<br /><ul><li>Just keeping business going
    3. 3. Operational ineffectiveness
    4. 4. Lack of focus
    5. 5. Time mis-management</li></li></ul><li>The fear of going out of business<br />
    6. 6. Business is cyclic: plan for it<br />Business Failure in UK and US Quoted Firms: Impact of Macro-economic and The Role of Legal Systems (2003), A Bhattacharjee, c. Higson, S. Holly, P. Kattuman<br />
    7. 7. Northwest business bankruptcies <br />
    8. 8. Liquidations to Q1 2011<br /><ul><li>4,121 liquidations Q1 2011
    9. 9. 3.7% more than previous quarter
    10. 10. 2.1% more than Q1 2010</li></li></ul><li>Operational Ineffectiveness<br />
    11. 11. Operational Mess<br />No SMART goals<br />Lacks executive focus<br />Not understanding consumers<br />Knee jerk discounting<br />Poor time management<br />
    12. 12. A business has SMART goals if…<br /><ul><li>Specific
    13. 13. Measureable
    14. 14. Achievable
    15. 15. Relevant
    16. 16. Time-bound</li></ul>SMARTER goals have “emotional resonance”<br />
    17. 17. Lack of Focus<br />No business strategy<br />Continual fire fighting<br />Meetingitis<br />No marketing/sales calendar<br />
    18. 18. Business must understand consumers<br /><ul><li>"Slam on the brakes“
    19. 19. "Pained but patient“
    20. 20. "Comfortably well-off“
    21. 21. "Live for today"</li></ul>“How To Market In a Downturn”, Harvard Business Review April 2009 - JA Quelch & KE Jocz<br />
    22. 22. Knee jerk discounts may affect your business health<br />Gross profit is 50%<br />Cost is £10 retails at £15, profit £5<br />10 sales gets 10x£5 = £50 profit<br /><ul><li>Discount by 15%
    23. 23. Sale price is £12.75, profit is £2.75
    24. 24. Have to sell 18x£2.75 to get £49.50 profit</li></ul>8 extra sales required!<br />
    25. 25. Traits of a pretty poor time manager<br />Works more than 50 hours a week<br />Few specific goals or deadlines<br />Usually not meeting deadlines<br />Makes ill-thought out decisions<br />Stressed<br />No real social life<br />No time for exercise<br />Fear of delegation<br />Messy desk<br />Procrastination<br />
    26. 26. Parkinson’s Law<br />“Work expands so as to fill the time available for its completion”<br />Cyril Parkinson, 1957<br />
    27. 27. Resolving Business Dangers<br />Create a business strategy<br />Address the 5-6 key issues<br />Produce a pragmatic “vital few” plan<br />Improve time management<br />Keep executive and team focus<br />
    28. 28. Focusing on the “one”<br />Training gives 22.4% increase<br />Training plus coaching gives 88% increase<br />Public Personnel Management, Winter 2007, Vol 20, Issue 4<br />
    29. 29. “The time to repair the roof is when the sun is shining”<br />
    30. 30. Business Action Programme<br />Steps<br />Growth questionnaire<br />Strategic view<br />KUTA matrix<br />Time management workshops<br />Weekly business focus<br />
    31. 31. Jim Symcox<br />Business growth evangelist for the last 11 years<br />Trained by Chet Holmes, Tony Robbins and Jay Abraham<br />Help Tony and Chet’s clients worldwide<br />Helped grow businesses on NWDA High Growth programme<br />
    32. 32. What others say…<br />Top qualities: Great Results, Personable, Creative <br />“I have worked with Jim on a regular basis in the past 12 months and he has provided me and my company with some invaluable advice, particularly in the field of business strategy and marketing. Jim has a wealth of experience that has really helped my company grow during very difficult economic times.” Duncan Freer<br />Top qualities: Personable, Expert, Creative <br />“We welcome this opportunity to recommend Jim from Business Powerpack Limited as both as a speaker & workshop leader. . At our recent Digital Matters events, at various events aimed the Digital, Creative and ICT sector, he has always provided detailed and thought provocative presentations which are littered with excellent realistic pointers and practical tips in helping to drive business activities forward. His presentations are always concise and designed to meet the brief. His presentation clearly demonstrated his depth of knowledge and understanding of the needs of the small businesses.” Les Selby<br />
    33. 33. Contact Details<br />Jim Symcox<br />Tel: 07963768114<br />Email: Jim@acornservice.com<br />Web site: http://www.business-powerpack.com<br />Author of “how to leap ahead of your competitors”<br />

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